by Editorial Staff As part of an extraordinary Ecofin convened by the Spanish presidency through a video call, the European Union managed to reach a historic agreement on the new Stability Pact. Italy accepted the agreement in the "spirit of compromise", thus bringing its consent to the important meeting between the member states. The Italian Minister of Economy, Giancarlo Giorgetti, has [...]
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by Editorial Staff Stability and Growth Pact, gray smoke in Brussels, countries remain entrenched in their positions. Glimmers of light for Italy's requests for a recovery plan with the EU Commission which could be extended to 7 years in the event of reforms and investments. Early in the morning after an eight-hour long meeting, […]
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by Francesco Matera The final stretch of every negotiation is always the most difficult, as it inevitably involves the need to give in on some positions. The final phase of the negotiations on the reform of the Stability and Growth Pact was entrusted to the financial ministers of the 27 countries of the European Union, gathered during a dinner at the end [...]
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Minister Giorgetti thus presented the Italian proposal to Ecofin, reiterated at the International Tourism Forum: “When they say we shouldn't have a deficit, we shouldn't have debt. No, you don't have to go into debt. If those before made mistakes, we must not make mistakes. The problem is not so much flexibility or rigid rules, but inserting realism [...]
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The ECOFIN Council approved the Action Plan for an integrated Union policy on the prevention of money laundering and terrorist financing which provides for the establishment of a European supervisory authority which will have direct intervention powers, but it may also take the place of national authorities in clearly defined and exceptional situations The Council [...]
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EU states should exercise the right of veto over decisions of the European Commission on industrial mergers. This is what was stated by the French economy minister, Bruno Le Maire, and the German finance minister, Olaf Scholz, in a joint press conference on the sidelines of the Ecofin meeting. The statements of Le Maire and Scholz, note [...]
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Ecofin, the EU economic and financial committee, which includes representatives of the ministries of the Treasury, rejected the Italian maneuver, fully endorsing the considerations already expressed by the Commission. Ecofin thus communicated the decision in a 5-page document. However, there is also talk of additional elements that may emerge from the dialogue [...]
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The Ecofin meeting, which saw the participation of the Minister of the Treasury Giovanni Tria, did not bring any news for Italy, indeed the results of the same confirmed that the government will have to find 5 billion euros this year and another 10 next one. No correction of 0,3% of GDP for the year 2018. A correction hoped for [...]
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